MIRA INFORM REPORT
|
Report No. : |
305058 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SKS FASTENERS LIMITED |
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|
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|
Formerly Known
As : |
SKS FASTNER PRIVATE LIMITED |
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Registered
Office : |
1990, Ambethan Road, Chakan Taluka, Rajgurunagar, Pune – 410501,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.12.1996 |
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Com. Reg. No.: |
11-131826 |
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Capital
Investment / Paid-up Capital : |
Rs. 79.213 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27109PN1996PLC131826 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES11110B |
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PAN No.: [Permanent Account No.] |
AACCS5427L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of High Tensile Fasteners. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. As per Registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March, 2014 but the documents related
to the financials for the year 2014 are not available from any sources. As per available financial of 2013, Reserve of the company seems to be
low. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “B+” |
|
Rating Explanation |
Have high risk of default. |
|
Date |
24.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
24.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Saroj |
|
Designation : |
Sales and Marketing |
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Contact No.: |
91-80-42907909 |
|
Date : |
27.01.2015 |
|
|
|
|
Name : |
Mr. Muna |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9325399376 |
|
Date : |
27.01.2015 |
LOCATIONS
|
Registered Office : |
1990, Ambethan Road, Chakan Taluka, Rajgurunagar, Pune – 410501,
Maharashtra, India |
|
Tel. No. : |
91-21-35254822 / 254018 |
|
Mobile No. : |
91-9325399376 (Mr. Muna) |
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Fax No. : |
91-21-35252901 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 13.08.2014
|
Name : |
Mr. Sushil Kumar Phoolchand Bindal |
|
|
Designation : |
Chairman and Managing Director |
|
|
Address : |
A-201, Mantri Lawns, Anand Park, ITI Road Aundh, Pune – 411007,
Maharashtra, India |
|
|
Date of Birth/Age : |
18.09.1954 |
|
|
Qualification : |
B.Com |
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|
Date of Appointment : |
01.04.2014 |
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PAN No : |
AARPB9266C |
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Voter ID No. : |
DRD0528646 |
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DIN No : |
00484253 |
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|
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|
Name : |
Mr. Sudhanshu Sushil
Bindal |
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Designation : |
Executive Director |
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|
Address : |
A-202, Mantri Lawns, Anand Park, ITI Road Aundh, Pune – 411007,
Maharashtra, India |
|
|
Date of Birth/Age : |
21.07.1982 |
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|
Qualification : |
B.B.A. |
|
|
Date of Appointment : |
15.06.2003 |
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PAN No : |
AEKPB4514N |
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|
Voter ID No. : |
DRD4272571 |
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|
DIN No : |
00677932 |
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|
|
|
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|
Name : |
Mrs. Meenal Sudhanshu
Bindal
|
|
|
Designation : |
Director |
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|
Address : |
A-202, Mantri Lawns, Anand Park, ITI Road Aundh, Pune – 411007,
Maharashtra, India |
|
|
Date of Birth/Age : |
06.12.1982 |
|
|
Qualification : |
M.B.A. |
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|
Date of Appointment : |
01.08.2007 |
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PAN No : |
ANGPS7212K |
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|
DIN No : |
01682193 |
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|
|
|
|
|
Name : |
Mr. Vinod Vimalchand Jain |
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|
Designation : |
Director |
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|
Address : |
P-15, Vishal Garden, Shikrapur Road, Chakan, Pune – 410501,
Maharashtra, India |
|
|
Date of Birth : |
08.12.1975 |
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|
Qualification : |
B.E. |
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|
Date of Appointment : |
18.10.2002 |
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PAN No : |
ACNPJ7830L |
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|
DIN No : |
00484344 |
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|
|
|
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|
Name : |
Mr. Rajiv Kumar Agarwal |
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|
Designation : |
Director |
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|
Address : |
D-4, Alcon Square, Plot No. 71/1+2+3, Sector – 7, Indrayani Nagar,
Bhosari, Pune – 411026, Maharashtra, India |
|
|
Date of Birth : |
05.09.1974 |
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Qualification : |
B.Com |
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|
Date of Appointment : |
21.07.2010 |
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PAN No : |
AAZPA7995F |
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DIN No : |
00535060 |
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|
|
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|
Name : |
Mr. Sanwarmall M. Changoiwala |
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|
Designation : |
Director |
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|
Address : |
P-222, C.I.T. Scheme, Kankurgachi, Kolkata -700054, West Bengal, India |
|
|
Date of Birth : |
15.04.1940 |
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|
Date of Appointment : |
28.09.2013 |
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|
DIN No : |
00247785 |
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KEY EXECUTIVES
|
Name : |
Ms. Shraddha S. Kavathekar |
|
Designation : |
Secretary |
|
Address : |
22/9, Shree Prasana Housing Society, Bibwewadi, Pune – 411037,
Maharashtra, India |
|
Date of Birth/Age : |
26.05.1988 |
|
Date of Appointment : |
28.06.2011 |
|
PAN No.: |
CCDPK7977D |
|
|
|
|
Name : |
Mr. Saroj |
|
Designation : |
Sales and Marketing |
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|
|
|
Name : |
Mr. Muna |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.08.2014
|
Names of Shareholders |
No. of Shares |
|
Sushil Kumar Bindal |
1488374 |
|
Sushil Kumar Bindal HUF |
2398019 |
|
Pushpa Bindal |
767246 |
|
Sudhanshu S. Bindal |
738233 |
|
Meenal S. Bindal |
819715 |
|
Sudhanshu S. Bindal HUF |
859130 |
|
Bhagirath Arya |
850000 |
|
Rajiv Agarwal |
10 |
|
Meena Jain |
579 |
|
Total |
7921306 |
As on 13.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Tensile Fasteners. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
|
|
|
|
|
High Tensile Fasteners |
MT |
13,000 |
-- |
|
Nos. |
-- |
180614567 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
· Ashok Leyland · Dana · Endurance · GM · JCB · Komatsu · Mahindra · Siemens · Tata · Telcon |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Bank of India, Pune Main Branch, 8-A, Coyaji Road, Camp, Pune – 411001, Maharashtra, India · Bank of India, Pimpri Branch, Pimpri, Pune – 411018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C M R S and Associates Chartered Accountants |
|
Address : |
Office No. 12, PJ Chambers , Mumbi-Pune Road, P impri, Pune – 411018, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFC8309G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Entity where the directors
of the company are members: |
SKS Community Development Welfare Society |
CAPITAL STRUCTURE
As on 13.08.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11450000 |
Equity Shares |
Rs.10/- each |
Rs.114.500 Millions |
|
|
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7921306 |
Equity Shares |
Rs.10/- each |
Rs. 79.213
Millions |
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|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
79.213 |
79.213 |
79.213 |
|
(b) Reserves & Surplus |
49.850 |
45.279 |
32.031 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
129.063 |
124.492 |
111.244 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
93.039 |
103.684 |
70.932 |
|
(b) Deferred tax liabilities (Net) |
17.223 |
19.356 |
16.708 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
110.262 |
123.040 |
87.640 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
96.545 |
81.610 |
61.549 |
|
(b) Trade
payables |
37.361 |
50.158 |
44.709 |
|
(c) Other
current liabilities |
82.435 |
74.028 |
65.782 |
|
(d) Short-term
provisions |
28.869 |
25.220 |
13.724 |
|
Total Current
Liabilities (4) |
245.210 |
231.016 |
185.764 |
|
|
|
|
|
|
TOTAL |
484.535 |
478.548 |
384.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
214.272 |
200.469 |
168.440 |
|
(ii)
Intangible Assets |
0.659 |
0.669 |
0.720 |
|
(iii)
Capital work-in-progress |
0.000 |
2.282 |
1.105 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.431 |
0.431 |
0.431 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.518 |
0.525 |
0.464 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
215.880 |
204.376 |
171.160 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
74.464 |
86.920 |
73.945 |
|
(c) Trade
receivables |
155.486 |
148.262 |
109.884 |
|
(d) Cash
and cash equivalents |
12.749 |
13.148 |
10.943 |
|
(e)
Short-term loans and advances |
0.106 |
0.090 |
0.185 |
|
(f) Other
current assets |
25.850 |
25.752 |
18.531 |
|
Total
Current Assets |
268.655 |
274.172 |
213.488 |
|
|
|
|
|
|
TOTAL |
484.535 |
478.548 |
384.648 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
683.551 |
683.035 |
537.756 |
|
|
|
Other Income |
2.921 |
3.994 |
1.298 |
|
|
|
TOTAL (A) |
686.472 |
687.029 |
539.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
394.288 |
405.612 |
322.489 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
16.378 |
(5.479) |
2.711 |
|
|
|
Employees benefits expense |
41.610 |
33.649 |
24.683 |
|
|
|
Other expenses |
177.858 |
176.227 |
128.847 |
|
|
|
TOTAL (B) |
630.134 |
610.009 |
478.730 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
56.338 |
77.020 |
60.324 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.635 |
17.695 |
14.832 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.703 |
59.325 |
45.492 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.563 |
24.079 |
9.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
6.140 |
35.246 |
35.711 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.569 |
12.792 |
11.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
4.571 |
22.454 |
23.920 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
7.723 |
11.399 |
6.402 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Consumable Stores |
40.933 |
8.733 |
5.224 |
|
|
|
Capital Goods |
13.870 |
6.331 |
0.000 |
|
|
TOTAL IMPORTS |
54.803 |
15.064 |
5.224 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
0.58 |
2.83 |
3.02 |
|
|
|
Diluted |
0.58 |
3.38 |
2.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.67 |
3.29 |
4.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.24 |
11.28 |
11.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.27 |
7.41 |
9.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.28 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.47 |
1.49 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.19 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
79.213 |
79.213 |
79.213 |
|
Reserves & Surplus |
32.031 |
45.279 |
49.850 |
|
Net
worth |
111.244 |
124.492 |
129.063 |
|
|
|
|
|
|
long-term borrowings |
70.932 |
103.684 |
93.039 |
|
Short term borrowings |
61.549 |
81.610 |
96.545 |
|
Total
borrowings |
132.481 |
185.294 |
189.584 |
|
Debt/Equity
ratio |
1.191 |
1.488 |
1.469 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
537.756 |
683.035 |
683.551 |
|
|
|
27.016 |
0.076 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
537.756 |
683.035 |
683.551 |
|
Profit |
23.920 |
22.454 |
4.571 |
|
|
4.45% |
3.29% |
0.67% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10276715 |
31/05/2011 * |
27,500,000.00 |
BANK OF INDIA |
PIMPRI BRANCH,, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B15323561 |
|
2 |
10242391 |
14/01/2011 * |
60,000,000.00 |
BANK OF INDIA |
PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B04700498 |
|
3 |
10242392 |
14/01/2011 * |
9,100,000.00 |
BANK OF INDIA |
PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B04703476 |
|
4 |
10242562 |
14/01/2011 * |
10,000,000.00 |
BANK OF INDIA |
PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B04706412 |
|
5 |
10246677 |
14/01/2011 * |
1,000,000.00 |
BANK OF INDIA |
PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B04709309 |
|
6 |
10246994 |
18/01/2013 * |
264,600,000.00 |
BANK OF INDIA PUNE MAIN BRANCH |
8-A,COYAJI ROAD, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B67995175 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred Sales Tax Loan |
48.141 |
49.334 |
|
Deposits from Others |
0.368 |
0.200 |
|
Total |
48.509 |
49.534 |
OPERATIONAL REVIEW
It is noteworthy that, nevertheless the recessionary conditions prevailing in market, the Company could register equivalent sales during the Financial Year 2012-2013 of Rs. 683.551 Millions in comparison with sales of Rs. 683.035 Millions in the previous financial year 2011-2012.
The total revenue generated from overall sales and other income, rounded-up to Rs. 686.472 Millions in year 2012-13, and Rs. 687.029 Millions during the previous financial year 2011-12.
However the expenses recorded during the year 2012-13 are higher, as compared to previous year. Total expenses incurred during the Financial year 2012-13 totaled to Rs. 680.332 Millions and during Financial Year 2011-12 it amounted to Rs. 651.784 Millions.
To sum up, the net profit after taxes in previous year 2012-13 arose to 22.454 Millions and Rs. 4.571 Millions during the financial year under consideration 2012-13.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.